Plantain farming for the upwardly mobile

TO Adetifa Olufemi, plantain farming should be an avenue for the Federal Government to get Nigerians, especially the youth, out of poverty.

This is because many Nigerians eat plantain and its prices are on the rise. The business is attractive due to low labour cost requirement for production compared to maize, rice and yam.

Modern breeding has produced high yielding varieties.

Olufemi, who owns a plantain farm off Papa Lanto (on Ilaro/Sagamu) on the old Lagos-Ibadan Expressway, said plantain farming was lucrative. He plants plantain for profit and makes good cash from it yearly.

He has identified breeds that are more productive, high-yielding and pest-resistant for more profits.

At the beginning of the planting season, he bought 1,000 suckers at N120 each, which totals N120,000. When he harvested, he got 1,000 bunches of plantain which sold for at least N1400 each. So, he made about N1.4 million from the sale.

He said after expenses, one could still make 400 per cent profit.

To improve the quality of his plantains, Olufemi receives improved suckers from the International Institute of Tropical Agriculture (IITA), Ibadan. Prospective investors need to have at least N350,000. This will cover lease of the land, purchase of suckers, labour and other costs.

He said with an investment of N350,000, one can make more than N1 million in turnover and more than 400 per cent in profit. The profit depends on the quantity of bunches that can be harvested per acre/hectare multiplied by the selling price per bunch of plantain. Olufemi said plantain growing has changed the livelihoods of people.

He helps the entrepreneurs secure a land, prepare it and get good suckers. Plantain is an all-year round market. It provides monthly income year round.

He said prospective investors can start with an acre of land, which can contain 800 to 1000 suckers. The market is guaranteed as plantain is consumed by Nigerians. There is also a market to process raw plantains into the ever popular plantain chips for sale in schools and markets. This has proved to be a lucrative enterprise that is raising incomes of entrepreneurs as they improve the market value of their plantains.

Plantain plantation can last for a very long time if it is well maintained. According to him, constant weeding is the key to reaping big harvest and good quality crops. He received instruction on new planting techniques, pest control, and improved post-harvest practices. The impact on production was remarkable. Though these production improvements have been impressive, one must compete in the marketplace to sell the produce.

Olufemi is an agricultural entrepreneur looking to the future with enthusiasm and optimism. He aims to increase access to sustainable livelihood pathways for targeted youth through plantain farming.